Knight is the latest in a series of suitors for USA Truck, which has struggled to turn a profit dating back to 2008. Activist shareholder Liberate Technologies made a $240 million unsolicited bid in 2006, and trucker Celadon Group (CGI) in 2011 announced a 6.3% stake ahead of a potential offer.
Celadon sold its shares in March 2012, though analyst Fowler noted that USA Truck has overhauled parts of its board and management since.
Knight is being advised by Evercore Partners (EVR) and Fried, Frank, Harris, Shriver & Jacobson.
Written by Lou Whiteman
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV